Chief executive reveals strategy to acquire major QS company within two years to grow UK business
US consultant Hill International is planning to buy a major QS firm in the UK, its chief executive has told 黑洞社区.
Hill鈥檚 UK division has become a firm entirely focused on project management after its parent sold off its construction claims business 鈥� which made up the lion鈥檚 share of UK turnover 鈥� to European investment giant and Pret A Manger owner Bridgepoint last month.
The sale of the 960-strong construction claims business for $147m (拢119m) is expected to close next month.
Speaking to 黑洞社区, chief executive David Richter said $720m-turnover (拢593m) Hill was now looking to acquire 鈥渁t least one鈥� QS firm in the UK within the next two years of between $10m-100m turnover, or 100 to 1,000 people.
He said: 鈥淲e have an interest in growing the UK business. We see the UK as a great market for project management.
鈥淲e want to continue to grow across Europe, but we can鈥檛 do that without a strong base in the UK.鈥�
Explaining decision to sell its construction claims business, Richter said it would be effectively tax-free and would wipe off the company鈥檚 existing debt, which stands at $145.8m (拢117.9m).
He added the claims division felt 鈥渉indered鈥� by conflicts of interest with the project management side when doing business.
He said: 鈥淭here were more conflicts of interest between the two businesses. Obviously you can鈥檛 do claims against the clients in our project management business.
鈥淸The construction claims division] believe they鈥檙e now big enough and capable enough to work on their own.鈥�
Hill鈥檚 plans to invest in the UK come despite the Brexit vote, and the firm鈥檚 boss insisted the country鈥檚 decision to leave the European Union would not have 鈥渢oo much of a negative impact鈥� on the UK construction market.
Richter said: 鈥淒espite Brexit, the UK continues to be the best springboard for growth in Europe.鈥�
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